Funding arb · Price arb /

PIPPIN

all PIPPIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0290%/8h= −31.8% APRpaid last 24h −0.167%

Price spread now: Pacifica against KuCoin−0.100%46s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Pacifica is 0.100% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PIPPINUSDTM	0.01898	0.0390	pay 0.0195% / 4h	1h 45m	$2.1M	$3.3M	25x
Short	Pacifica PIPPIN	0.01896	0.0100	get 0.0013% / 1h	45m 50s	$18K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee PacificabpOrdersPrice spread, now −0.100%Rate

Funding earned: −$60.9
Price spread: −0.100% → 0.000%: −$10.01
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$90.91
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; Pacifica: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 6 min ago	7.91 bp	159.1 bp −$159	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PIPPIN on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PIPPINshort	+0.0100%	1h	0.01896	−0.100%	$18K	$9K	3x
Bitget PIPPINUSDT	+0.0100%	4h	0.01895	−0.158%	$1.6M	$351K	10x	as long as short
SunX PIPPIN-USDT	+0.0100%	4h	0.01899	+0.053%	$1K	$9.7M	20x	as long as short
HTX PIPPIN-USDT	+0.0100%	4h	0.01886	−0.632%	$34K	$16K	20x	as long as short
OKX PIPPIN-USDT-SWAP	+0.0120%	4h	0.01897	−0.053%	$1.6M	$3.3M	20x	as long as short
Aster PIPPINUSDT	+0.0124%	4h	0.01895	−0.153%	$110K	$32K	5x	as long as short
BloFin PIPPIN-USDT	+0.0328%	4h	0.01898	0.000%	$251K	$27K	25x	as long as short
Binance PIPPINUSDT	+0.0347%	4h	0.01896	−0.096%	$5.3M	$4.6M	25x	as long as short
MEXC PIPPIN_USDT	+0.0354%	4h	0.01896	−0.105%	$2.6M	$747K	50x	as long as short
KuCoin PIPPINUSDTMlong	+0.0390%	4h	0.01898	long leg	$2.1M	$3.3M	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PIPPINUSDT	+0.0680%	4h	0.01899	+0.053%	$3.6M	$1.4M	13x	as long as short
BingX PIPPIN-USDT	+0.0682%	4h	0.01898	0.000%	—	$1.3M	—	as long as short
Gate PIPPIN_USDT	+0.0714%	4h	0.01896	−0.105%	$1.8M	$301K	20x	as long as short